Corporate and Securities Litigation

Representative experience

• Representation of Mylan N.V. in its $30 billion unsolicited offer to acquire all of the issued share capital of Perrigo Company Plc., an Irish company listed on the NYSE and Tel Aviv Stock Exchange (TASE), in what became the largest hostile takeover offer in history to go to completion. Meitar represented against the backdrop of Perrigo’s transnational defense tactics, our Corporate, Securities and Litigation Groups successfully defended Mylan against Perrigo’s attempt to enjoin the offer from going forward in Israel, and brought about Mylan’s ultimate exemption by the Israeli Securities Authority from publishing an Israeli Prospectus in connection with its offer.  The firm also made new Israeli law regarding the ability of foreign corporations with antitakeover defenses to dual-list their shares on the TASE.
• Representation of Bank Leumi in a derivative claim and class actions for US$ 280 million, following an agreement reached between the Bank and the US Department of Justice in connection with alleged assistance by the Bank to its US customers to evade US taxes.
• Representation of Taro Pharmaceutical Industries Ltd. in a lawsuit by minority shareholders which sought to invalidate certain resolutions adopted by Taro’s general meeting of shareholders. The District Court adopted Taro’s position and denied the claim, setting a precedent with regard to the manner of voting by shareholders of Israeli companies that are listed solely in the US.
• Representation of ChemChina and its executives in a class action and derivative action alleging conflicts of interests in its control over Adama Agricultural Solutions (formerly Makhteshim Agan Industries).
• Representation of Tnuva Food Industries in an originating motion regarding the sale of the control over Tnuva to the Chinese company Bright Food.
• Representation of former directors of the National Workers Union’s Pension Fund in a NIS 190 million class action.
• Representation of the trustees of IDB’s bondholders in the company’s debt restructuring (of approximately NIS 2 billion).
• Defense of Oil Refineries Ltd. (BAZAN) and others, in a claim according to which they sent deficient and misleading reports to the Tel Aviv Stock Exchange.
• Defense of the directors and senior executives of Leadcom Integrated Solutions Ltd., a company in liquidation and receivership, in a class action concerning securities law.
• Defense of Clal Biotechnology Industries Ltd. (CBI) in two class actions that were filed after the value of CBI’s shares decreased sharply as a result of a publication by Hyperion regarding material irregularities in Andromeda.
• Defense of Clal Biotechnology Industries LTD. (CBI) and D-Pharm in a class action related to an experimental drug and related securities issues.
• Defense of Gazit-Globe Ltd. and Gazit-Globe Israel (Development) Ltd. in several motions to certify class actions regarding the public financial reports of U. Dori Construction Ltd.
• Defense of the directors, the CEO and the former controlling shareholders of Kamor Ltd. in a motion to certify a class action that was filed on behalf of the company’s bondholders after the company became insolvent.
• Representation of Norstar Holdings Inc. (formerly Gazit Inc.) in a motion to approve a derivative action regarding the use of inside information.
• Representation of one of Israel’s largest holding companies in a derivative action relating to the grant of options to a senior employee.
• Representation of directors of one of Israel’s largest banks in a derivative action regarding breach of duty of care by the directors.
• Representation of Fahn Kanne & Co., one of the top accounting firms in Israel, in a motion to approve a derivative action against 25 respondents including controlling shareholders, directors and professional bodies. The motion deals with the collapse of the ATIA GROUP Company.
• Representation of Stratasys Ltd. in a claim filed by shareholders of the company, seeking cancellation of a series of investment rounds that were held by the company.
• Representation of the administrative receiver of the Feuchtunger Group in a claim against former directors and officers of the group.
• Representation of Sun Pharmaceuticals in a control battle over Taro Pharmaceuticals – a leading Israeli pharmaceutical company.
• Representation of M-Systems (now SanDisk) in a derivative action regarding an alleged breach of duty of care by its directors.
• Representation of foreign investors in several related lawsuits to block a takeover attempt of the prestigious real estate complex in Jerusalem known as the “Eden Cinema Site”.
• Representation of the controlling shareholders against the minority shareholders in one of Israel’s largest beverage producers.
• Representing the trustee of an insolvent group of public companies in claims of NIS 100 million against former directors and officers for breach of fiduciary duty.
• Representation of minority shareholders to block a reorganization scheme in the Phoenix Insurance group.
• Defense of a leading Israeli investment house in a NIS 112 million negligence claim by one of its clients.
• Defense of one of the “big four” accounting firms in a NIS 60 million professional negligence claim by the liquidators of a bankrupt public company.
• Defense of the officers of Taldor Computer Systems (1986) Ltd. in a motion to certify a class action.
• Representation of the board members of Partner Communications Company Ltd. in a motion to approve a derivative action against the backdrop of the leveraged buyout of the company.
• Defense of Partner Communications Company Ltd. in a number of derivative actions that were filed against it regarding dividend distribution.
• Representation of Mr. Tshuva, Mr. Tadmor and the directors of the Delek Group in a motion to approve a derivative counterclaim regarding the unlawful approval of a bonus.
• Representation of controlling shareholders in two derivative actions relating to the terms of their employment and the approval of their employment contracts.